Punjab government announces cut in prices of fertilizers

LAHORE (92 News) – The Punjab government has announced to reduce the prices of fertilizers in the budget for FY2016-17. The prices of Urea and DAP have been reduced by Rs400 and Rs300 per bag. An amount of Rs11.7 billion has been allocated for a subsidy on fertilizers. The government announced that loans amounting to Rs100 billion will be given to farmers for water and seeds. A subsidy of Rs17.70 billion has been allocated for the agriculture sector. A sum of Rs147 billion has been earmarked for the Irrigation, Livestock, Fisheries and Food departments.